Estate & Tax Planning

Forming a partnership, even when with a trusted friend or colleague, should be done so with the foresight to protect yourself and your new joint venture. By formally setting the rules of the partnership at the formation of the business, you are setting your business up for success. read more

Having a long term care policy in place can help you preserve assets that would otherwise be diverted to custodial care, and give you peace of mind that your care needs will be addressed should the need arise.read more

Many people think estate plans are for the rich and not necessarily famous. After all, most of us don’t have millions of dollars sitting around, with heirs who fight with murderous intent. But you would be surprised at how useful – even essential – an estate plan can be for the average citizen.read more

The 2010 Tax Act1 has made it possible, under specified circumstances, for the estate of a surviving spouse to make use of the unused estate tax exemption of his or her predeceased spouse, a concept referred to as portability of the applicable exemption amount. Some estate planners have suggested that portability makes it unnecessary to continue to draft estate plans that include credit shelter trusts. read more

There are several types of annuities with the most popular being the variable annuity. The bank salespeople, often falsely referred to as financial advisors, make the sales pitch sound as if these products are the best things since the Wright Brothers took flight. I say buyer beware.read more

Top 5 estate planning mistakes I recently read a report that suggested that only about 20 percent of the population has a formal estate plan. After reviewing the points below, please take a minute to consider whether it’s time for you to create or update your estate plan. Here are a few of the top 5 avoidable estate planning mistakes: 1. Dying without a will or trust – If you die without a will or trust, the state in which you reside and the IRS will […]read more